Is Key Largo, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Key Largo has remained a Buyer's Market.
Key Takeaway
Key Largo is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Key Largo, FL
How much do homes in Key Largo, FL cost?
Median Sold Price
$945,000
$659/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Key Largo have sold for 22.7% more than they did a year ago.
Summary: The median home sold price in Key Largo was $945,000 in March 2024, up 22.7% from last year, and the median price per square foot was $659.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $339K | $510K | +50.4% |
| 2 Bedrooms | $622.5K | $810K | +30.1% |
| 3 Bedrooms | $820K | $945K | +15.2% |
| 4 Bedrooms | $1.5M | $1.6M | +10.0% |
| 5+ Bedrooms | $2.0M | $2.6M | +30.5% |
Summary: Key Largo housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 50.4%, 2 bedroom homes increased by 30.1%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 30.5%.
Median Sold Price Compared To Nearby Cities
| Upper Keys | $800K | $1.0M | +31.3% |
| Key Largo | $770K | $945K | +22.7% |
Housing Supply in Key Largo, FL
How many homes are available in Key Largo, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 100 | 106 | +6.0% |
Summary: The Key Largo real estate market had 106 homes for sale in March 2024, a 6.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 24 | 25 | +4.2% |
| 3 Bedrooms | 49 | 48 | -2.0% |
| 4 Bedrooms | 15 | 20 | +33.3% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Key Largo housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 4.2%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 8 | -27.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Key Largo, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Key Largo in March 2024, down by 27.3% month-over-month. Of the 8 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Key Largo, FL
How long does it take to sell a home in Key Largo, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 113 Days | 60 Days | -46.8% |
Summary: Homes in Key Largo had an average of 60 days on market in Mar 2024, down by 46.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Key Largo has remained consistent over time.
Summary: During March 2024, 8 homes were sold in Key Largo; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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